Encore Capital Group (NASDAQ:ECPG) Announces Quarterly Earnings Results

Encore Capital Group (NASDAQ:ECPG) issued its quarterly earnings data on Wednesday. The asset manager reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.22), Briefing.com reports. The business had revenue of $367.07 million during the quarter, compared to analysts’ expectations of $360.70 million. Encore Capital Group had a positive return on equity of 13.00% and a negative net margin of 13.91%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS.

Encore Capital Group Stock Performance

Encore Capital Group stock opened at $49.97 on Friday. The firm has a fifty day simple moving average of $46.68 and a two-hundred day simple moving average of $45.68. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 3.50. Encore Capital Group has a twelve month low of $39.64 and a twelve month high of $54.55. The company has a market capitalization of $1.18 billion, a PE ratio of -6.37 and a beta of 1.56.

Analyst Upgrades and Downgrades

ECPG has been the subject of a number of research analyst reports. Truist Financial dropped their price target on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Northland Securities raised shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $58.00 in a report on Thursday, October 17th. Northland Capmk raised shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, JMP Securities increased their target price on Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research note on Thursday. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $62.33.

Encore Capital Group Company Profile

Encore Capital Group, Inc, a specialty finance company, provides debt recovery solutions and other related services for consumers across financial assets worldwide. The company purchases portfolios of defaulted consumer receivables at deep discounts to face value, as well as manages them by working with individuals as they repay their obligations and works toward financial recovery.